public finance fiscal & monetary policy section 6 Practice Questions Answers Test with Solutions & More Shortcuts

Question : 26 [SSC CML 2006]

Core Industries are

a) Government industries

b) Consumer goods industries

c) Basic industries

d) Capital goods industries

Question : 27 [UPSC (Pre) 2018]

Consider the following statements.

1. The Fiscal Responsibility and Budget Management (FRBM) Review Committee Report has recommended a debt to GDP ratio of 60% for the general (combined) government by 2023, comprising 40% for the Central Government and 20% for the State Government.
2. The Central Government has domestic liabilities of 21% of GDP as compared to that of 49% of GDP of the State Government.
3. As per the Constitution of India, it is mandatory for a State to take the Central Government’s consent for raising any loan if the former owes any outstanding liabilities to the latter.

a) 1, 2 and 3

b) Only 1 and 3

c) Only 1

d) Only 2 and 3

Question : 28 [SSC CML 2001]

In public budgets, zero-base budgeting was first introduced in

a) Sweden

b) UK

c) USA

d) France

Question : 29 [SSC SO 1997]

If people’s income of a country is denoted in a curved line space that it has increased, then what does it denote?

a) dissimilarity in income distribution is increasing

b) the income is decreasing

c) the income is increasing

d) dissimilarity is decreasing in income distribution

Question : 30

CENVAT is related to-

a) Sales Tax

b) Service Tax

c) Excise Duty

d) Custom Duty